Hard Money Lending Terms
To schedule a free loan consultation, please call (254) 230-0012 (for loans in Texas) or (503) 222-4466 (for loans in Oregon and other states).
Hard money loans can help make deals happen! These types of loans are known for their quick funding, in situations that might not qualify for a traditional bank loan.
Each hard money lender has different terms, but here are our commercial loan and bridge loan terms:
Loan Amounts For Hard Money Loans
We provide hard money loans ranging from $75,000 to $7,000,000.
Interest Rate For Hard Money Loans
Our interest rates for the hard money loans that we offer ranges from 10%-14%.
Payments On Hard Money Loans
You pay interest only (not principal) for the loan, on a monthly basis.
Lengths Of Hard Money Loans
The typical length of our hard money loans is up to 1 year.
Extensions For Hard Money Loans
In certain circumstances, we will offer extensions for loans that extend past 1 year. Contact us for more details.
Pre-Payment Penalties On Hard Money Loans
There are no pre-payment penalties for paying off your loan before the term of the loan expires.
Collateral For Hard Money Loans
For your hard money loan, you’ll need to put up real estate as collateral – we can loan up to 75% of the value of the property that you use as collateral.
Lien Position For Hard Money Loans
We need to be in the first lien position on the loan, which means that you can’t owe any money on the property that you’re putting up as collateral for the loan or have any outstanding liens on the property.
Fees For Hard Money Loans
Our fees for hard money loans range from 1%-4%. We also charge a $595 documentation prep fee and a $395 administrative fee for each loan. We evaluate the need for an appraisal of the property and an environmental study on a case by case basis.
Loan Approval Process For Hard Money Loans
Our loan approval process is streamlined – we can approve most hard money loans in as little as 1 business day.
Quick Funding For Hard Money Loans
Once the loan has been approved, we can provide quick funding – within as little 7 days.
TriTalent Funding Group, Inc.
At TriTalent Funding Group, Inc., we’ve been providing commercial loans and bridge loans since 2004. We have offices in Portland, Oregon and Waco, Texas, and we provide loans in Oregon, Washington, Idaho, Nevada, California, Arizona, and Texas (Austin, Dallas, San Antonio, Waco, and other areas).
For more information about a hard money loan, or to get a quote, please call (254) 230-0012 (for loans in Texas) or (503) 222-4466 (for loans in Oregon or other states).
See related topics:
Quick Funding – Short-Term Bridge Loans
SBA Loan Denial Or Delay: Turn To TriTalent Funding
Hard Money Loans For Real Estate